When it comes to buying a property, you will have to choose between buying a new build or an existing property. Whilst there are many advantages to buying an existing property, such as the potential for renovation and stunning period details, there may also be off-putting cons that you have to deal with, like high maintenance costs and low energy efficiency. Buying a brand new home straight from the developer, on the other hand, has many benefits that you may not have previously considered. To help you out in your search for your dream home, here are four reasons why you should buy a new build home.
- Financial support
A new build home is a particularly good way for first-time buyers to get on the property ladder, as financial support is available to help to buy new builds. The help to buy scheme is aimed exclusively at first-time buyers purchasing their first home. By saving up 5% of your own deposit, you will receive a 20% equity loan from the government, enabling you to buy the home you need with a 75% mortgage. The help to buy equity loan is only available on new build properties, making brand new homes the ideal purchase option for first-time buyers.
- Energy efficient
New builds have to be compliant with the latest building regulations, meaning that they are far more energy-efficient than existing properties. As such, you will not have to spend time and money updating a property lacking in modern energy efficiency technology such as up-to-date double glazing, as it has already been ensured by the developers. As your new build home has maximum energy efficiency, you will find that your bills are lower as less heat is escaping from your property, meaning that you will require less central heating.
- Blank canvas
Instead of grappling with the previous owner’s questionable interior design choices, your new build home will be entirely as the developer left it – a blank canvas. This gives you a completely blank canvas on which to make your mark and turn your new build into your dream home. Furthermore, you will have fresh tiling and paintwork and a completely new kitchen and bathroom, meaning that you will not have to spend time and money in refreshing the property with refurbishments. When buying a new build home, you can literally unpack your luggage and get on with enjoying your life in your new home.
One of the main stressors of buying a house is dealing with the chain of buyers above and below you, which can make the process of moving drawn-out expensive and stressful. However, the great thing about being the first owner of a new build property is that you will not have to deal with a chain of other people who have to first sell their properties before you can make the move. You can start your new life in your new build home soon after having signed the contract.